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in need of advise please
tosh01
Posts: 6 Forumite
Hello,
I currently have unsecured debts of approx £21500 and after recently losing my job and having £0 saving's I am currently paying £1 each to 8 creditors.
I am hopefully subject to a medical and security references about to take up full time emplyment again but the wage is a lot lower than what i was previously on, I have worked out a budget and currently have approx £165 disposible income left after all of my outgoings, and I am wondering whether a IVA would be best for me or a debt management plan ??
On a dmp if we managed to get the interest at 0 % I would be looking at approx 11 yrs to pay everything therefore would an IVA be better if so what would I be looking at paying then ??
Please help
I currently have unsecured debts of approx £21500 and after recently losing my job and having £0 saving's I am currently paying £1 each to 8 creditors.
I am hopefully subject to a medical and security references about to take up full time emplyment again but the wage is a lot lower than what i was previously on, I have worked out a budget and currently have approx £165 disposible income left after all of my outgoings, and I am wondering whether a IVA would be best for me or a debt management plan ??
On a dmp if we managed to get the interest at 0 % I would be looking at approx 11 yrs to pay everything therefore would an IVA be better if so what would I be looking at paying then ??
Please help
0
Comments
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Do you rent or own?I am wondering whether a IVA would be best for me or a debt management plan ??
If you rent, then an IVA is not for you, the purpose of entering into an IVA is to protect one's assets as in a property.Click here for Martins (MSE) advice on who to contact with Debt Issues - YOU HAVE NO REASON TO USE A FEE PAYING DEBT MANAGEMENT COMPANY- THEY CANNOT DO ANYMORE FOR YOU THAN THOSE LISTED IN MY LINK ABOVE.
All information given by myself is offered informally and without prejudice - if in doubt seek help from a qualified and insured professional0
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